TVS Motor's Subsidiary TVS EBike Company AG Enters Asset Transfer Agreement with Callista Asset Management 33 GmbH

TVS Motor Company Limited , through its wholly owned subsidiary TVS Motor (Singapore) Pte. Ltd and step-down wholly owned subsidiary TVS EBike Company AG, has entered into asset transfer agreements with Callista Asset Management 33 GmbH on May 14, 2026. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Transaction Overview

The asset transfer agreements record the arrangement for the proposed transfer of certain assets and liabilities owned by TVS EBike Company AG to Callista Asset Management 33 GmbH or any of its affiliates. The key details of the transaction are summarised below:

Parameter:	Details
Agreement Date:	May 14, 2026
Expected Completion Date:	August 13, 2026
Estimated Consideration:	CHF 16 Mn (book value of net assets, subject to adjustments)
Settlement Period:	24 months
Related Party Transaction:	No
Change in Shareholding Pattern:	No change

About the Parties Involved

The seller, TVS EBike Company AG, is a company incorporated under the laws of Switzerland, bearing identification number CHE-465.238.081, with its registered seat at Thurgauerstrasse 136, 8152 Glatt park (Opfikon). The buyer, Callista Asset Management 33 GmbH, is a company incorporated under the laws of Germany, with its registered seat at Steinstraße 48, 81667 Munich, Germany. Callista AMG was incorporated in April 2025, and during the period April 24, 2025, to December 31, 2025, it recorded a revenue of EUR 44.290,00. Callista AMG does not belong to the promoter, promoter group, or group companies of TVS Motor Company Limited.

TVS EBike's Financial Profile and Business Operations

TVS EBike's financial metrics for the calendar year 2025 are presented below:

Metric:	Details
Standalone Turnover (CY2025):	CHF 51.55 Mn
Standalone Net Worth (CY2025):	CHF 2.63 Mn

TVS EBike operates a retail network in Switzerland under the m-way brand, while also managing B2B sales across Europe and the UK. The company designs, develops, and markets ebikes under a portfolio of owned brands:

Cilo
Simpel
Allegro
EGO Movement
EBCO

Each brand offers distinct identities, high-quality engineering, and a focus on premium riding experiences.

Rationale and Nature of Transaction

The proposed transaction is not a slump sale but a transfer of certain assets and liabilities owned by TVS EBike. The board of directors of TVS EBike decided to proceed with the sale in light of evolving market conditions. The transaction falls outside the scope of a Scheme of Arrangement under Regulation 37A of the SEBI Listing Regulations, making that provision not applicable. There will be no change in the shareholding pattern of TVS Motor Company Limited as a result of this transaction.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.17%	-6.47%	-7.26%	+2.37%	+27.11%	+475.31%

TVS Motor Company , part of TVS Venu Group and a reputed two and three-wheeler manufacturer globally, has announced the induction of Mr. Ravindran Shanmugam as an Independent Director for a period of five consecutive years, effective May 13, 2026, subject to the approval of the shareholders. The appointment aims to strengthen the board's expertise in digital transformation and AI-led platforms as the company pursues future-ready growth ambitions.

Director Profile and Background

Mr. Ravindran Shanmugam is a seasoned technology entrepreneur and business leader with extensive experience in scaling consumer-focused businesses, digital transformation, and AI-led platforms across global markets. He is currently the Co-founder and Executive Chairman of Mable, an AI-enabled interior design and renovation platform based in Singapore. An alumnus of the University of Oxford, he previously served as Chief Executive Officer of Livspace Southeast Asia and held senior leadership roles at Grab. He also worked as a management consultant with McKinsey & Company, advising businesses on growth and strategy. Mr. Shanmugam brings deep expertise in technology, innovation, platform businesses, and strategic governance.

Appointment Details

Key details of the appointment are summarised below:

Particulars:	Details
Name of Director:	Mr. Ravindran Shanmugam
Designation:	Non-Executive Independent Director
Term:	5 consecutive years
Effective Date:	May 13, 2026
Approval Mechanism:	Shareholder approval

The company confirmed that Mr. Shanmugam is not related to any director and is not debarred from holding the office of director. The appointment is expected to add valuable experience to the board and raise the company's already rigorous corporate governance standards.

Leadership Perspectives

Sudarshan Venu, Chairman of TVS Motor Company, stated, "Mr. Ravindran Shanmugam brings deep expertise in digital & consumer-focused businesses, and AI-led transformation, along with strong experience in strategy, entrepreneurship and scaling businesses across global markets. His perspectives will add valuable depth to the TVS Motor board as we continue to strengthen our future-ready growth ambitions. We are delighted to welcome him and look forward to benefiting from his insights and guidance."

Mr. Shanmugam expressed his views on the appointment, saying, "I am honoured to join the board of TVS Motor Company, an institution with a strong legacy of engineering excellence, customer trust and global ambition. Mobility is being reshaped by technology, digital ecosystems, AI and evolving consumer expectations, and TVS Motor is well positioned to play a meaningful role in this transformation. I look forward to contributing to the board's deliberations and supporting the company's long-term growth journey with perspectives from technology-led transformation, platform businesses and consumer-focused innovation."